Who would have thought that a digital entity that was created as a source of funds and entertainment would end up becoming a fast-growing currency? Dogecoin (DOGE) may be flying all-time high in terms of its price and market capitalization but things were never the same for the asset in the past years.
Dogecoin (DOGE) was founded back in 2013 as a source of fun and entertainment for the cryptocurrency community. The symbol of Dogecoin (DOGE) portrays a picture showing a dog belonging to the Shiba Inu kind, which is considered an ancient dog in Japan.
From its creation back in 2013 to all the way up towards the end of 2020, Dogecoin (DOGE) was considered nothing more than a meme. However, in the year 2021, the dynamics around Doge (DOGE) completely changed when the DOGE army came into action.
DOGE army is a supporter of Dogecoin (DOGE) who has proven that if they want, they can move the price of DOGE to all-time highs in a matter of hours.
One of most the surprising facts about the DOGE army is that they have members such as Snoop Dogg and Elon Musk supporting it.
Therefore, at the beginning of the year 2021, the DOGE army came into action and surged the price of DOGE to all-time highs. That was the time when it was clear that DOGE was no longer a meme and had become one of the most surprising digital assets, and store of value.
After gaining significant price and valuation in January, the Dogecoin (DOGE) went silent and no one heard anything from the digital asset for the next couple of months.
The Dogecoin (DOGE) kept silent until recently when it re-emerged in the middle of April and has been stealing the entire spotlight from other major cryptocurrencies.
In a matter of a week, DOGE has gained so much success that several companies have started adopting it as a mode of payment on their platforms.
One such company is Newegg, which announced on Tuesday, April 20, it has added DOGE to the list of payment methods on its platform. Newegg is an online electronics retailer that is based in the United States and has gained a lot of success in the country.
Newegg has confirmed that in order to integrate DOGE as a payment method, it has acquired the services of BitPay.
The executives at Newegg have all commented on the price and market capitalization of the Dogecoin (DOGE). As per them, DOGE has emerged as one of the most reliable and profitable digital assets for the cryptocurrency industry. But, the digital asset is also very profitable for the mainstream institutions as it has gained a lot of momentum and adoption rate in recent months.